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SMEs Receive €475 Million in Loan Support from the European Union
The head of the EU delegation to Egypt, Ambassador Ivan Surkoš reported the European Union (EU), with support from European financial institutions will provide €475 million in loans to support SMEs. EU launched the ‘EU Facility for Inclusive Growth and Job Creation,’ which aims to provide an environment of business creation and economic...
White Paper: The Future of Financial Markets in Asia Pacific
A report from Kapronasia examines how banks and financial institutions are reacting to growing financial challenges. Problem areas for financial institutions include, third party non-bank financials threatening traditional banks and institutions, trade tensions between the U.S. and China and the U.S. and Canada, interest rates and regulations. Key...
Experts Join CREM and SMEDAN to Chart New Course for SME Funding in Nigeria
A business forum in Lagos, conducted by Centre for Research in Enterprise and Action in Management (CREM) examined the journey of SME funding in Nigeria. Noel Ihebuzor, Phd, Dean of CREM shared the factors inhibiting SMEs from receiving funds to grow. They include: Unfavourable government policy Improper implementation Accessibility obstacles...
India Moves Toward Universal Financial Inclusion
According to the Global Findex, India has improved financial inclusion; it’s reported that 80 percent of adults in 2017, have bank accounts and women owning accounts have increased by 30 percent. The Findex and the 2018 Financial Inclusion Insights (FII), show the Jan Dhan Yojana scheme (PMJDY) has contributed to helping the unbanked reach account...
Survey Finds Funding Gap is Stifling Small Business Growth in Australia
Research from SME Finance Forum member Xero revealed, that SMEs in Australia would borrow $80 billion over the next year, if funding was available. According to the research, SMEs reasoning for difficulty borrowing from a lender include: 55 percent finding an affordable loan 41 percent manually providing financials to a lender 40 percent finding a...
Mastercard, South Indian Bank Partner on Card Accepting Kit
SME Finance Forum member Mastercard and South India Bank will together launch ‘Merchant in a Box’ an integrated card accepting kit for merchants and SMEs. The kit includes a branded business debit card and the Bharat QR service, along with instant access to bank accounts and the acceptance of digital payments, according to the article. Rajeev...
Financing and Women-Owned Small Businesses: The Role of Size, Age and Industry
The Future of Business Survey in collaboration with Member World Bank, Facebook and OECD provides monthly data on the economic environment for SMEs around the world. Key findings in the publication included: In nearly every country and region, women report using bank loans less frequently than men do, instead relying on personal savings and...
2018 Women Business Owner Spotlight
Bank of America launched their third annual study, focused on the goals and challenges of women entrepreneurs across the country. The publication examines: rising business and economic confidence, leading the digital transformation and progress towards equal access to capital. Key points highlighted in the publication included: Women business...
How India’s Small Finance Banks Aim to Take Financial Inclusion to the Next Level
India has lended to hundreds throughout the unbanked community and is the largest microfinance market in the world, according to Next Billion. Microfinance in India has its pros and cons. It’s able to reach customers that mainstream financial institutions fail to notice, but it also lacks adequate regulation, making it dangerous for borrowers. The...
Spartan Joins 140 Other Financial Institutions to Promote SME Finance
Washington, D.C., September 4, 2018 – Spartan became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide need financing to...